Strategic Market Segmentation and Brand Positioning
Market Segmentation, Targeting, and Brand Positioning
Chapter 3: Market Segmentation & Target Marketing
1. Market Segmentation
- Definition: Dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors who might require separate products or marketing mixes.
- Reasons for Segmentation:
- Better understanding of customer needs.
- Efficient allocation of resources.
- Improved marketing effectiveness.
- Enhanced customer satisfaction and loyalty.
2. Bases of Segmentation
- Demographic
Healthy Snack Product Evaluation: Consumer Insights
Main Goal: Understanding Consumer Perception
The primary objective is to understand consumer attitudes and perceptions toward a healthy snack product intended for between-meals consumption.
Mixed Research Methodology
This evaluation employs a mixed-methodology approach, combining various research techniques:
- Secondary Data Analysis: To analyze market trends and benchmark competitors.
- Qualitative Research: Utilizing observation, focus groups, and in-depth interviews to explore perceptions, expectations,
Mastering Marketing Fundamentals: Strategies for Business Growth
Marketing Management: Definition, Selling vs. Marketing, Mix, & Scope
Marketing management refers to the process of planning, organizing, implementing, and controlling marketing activities, strategies, and programs to satisfy customer needs profitably. It is a managerial discipline that ensures a company delivers value to its target customers in a competitive marketplace. Philip Kotler defines marketing management as, “the art and science of choosing target markets and building profitable relationships
Read MoreMarket Research and Business Viability Strategies
Market Research: Foundations and Methods
Market investigation involves collecting and analyzing information about the market in which a company will operate. It is an organized, systematic, and objective process whose main purpose is to encourage decision-making, set goals, and design action policies.
Sources of Information
- Primary: Information collected directly by the company through surveys, focus groups, or interviews with potential consumers or experts.
- Secondary: Information already collected
Strategic Marketing: Concepts, Positioning, and Persuasive Advertising
Understanding Core Marketing Concepts
Marketing Concept Defined
The marketing concept is a business philosophy where a company’s success hinges on its ability to efficiently identify consumer needs and wants, and satisfy them better than the competition.
Why Marketing Matters for Business Success
- Financial success is directly related to a company’s ability to effectively market its products and services.
- A business becomes profitable when it offers goods and services that customers need and want at
Mastering Marketing Management: Functions for Business Success
Mastering the Marketing Effort
Managing the marketing process requires four essential marketing management functions:
Marketing Analysis
Marketing analysis begins with a complete assessment of the company’s situation. Marketers should conduct a comprehensive SWOT analysis:
- Strengths: Internal capabilities, resources, and positive situational factors that may help the company serve its customers and achieve its objectives.
- Weaknesses: Internal limitations and negative situational factors that may interfere